A larger mix of SUVs and pickups helped drive up prices in November, but November was also the sixth straight month of sales volume declines.
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It is the highest level of interest in electrified vehicles that the Kelley Blue Book Brand Watch report has ever measured. Electrified vehicles sales soar 60%.
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But volume for rental, commercial, and government vehicle purchases is still well below levels seen in the pre-pandemic year of 2019.
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Double whammy: New-vehicle inventory falls below 1 million units in September while the average new vehicle price tops $45,000 for the first time.
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All major market segments saw seasonally adjusted wholesale price increases in September, while sales into fleets were down 21% year over year in September.
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Despite lower production, there are more vehicles ready to be sold due to sales losing momentum since June.
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But sales are declining as car shoppers face limited inventory, high prices and historically low incentives.
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The profit index sets another record high, while the price pressure index increased modestly.
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Second quarter numbers show emerging competition for buyer choices as more models enter the market.
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Tight new-vehicle supply puts upward pressure on new-vehicle transaction prices. Affordability hits 10-year low in July.
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